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Diversity and Investment Performance - A Summary of the Research: 2022


This research brief summarizes and tabulates the studies that examine the connection between diversity and investment performance.


These studies look at investments made by:

  • Women or firms owned by women

  • Minorities or firms owned by minorities

  • Diverse teams that include women or minorities


They seek to answer the following questions:

  • Do these investments outperform or underperform?

  • Are these investments more or less risky?

  • Do these investments rely on a different investment approach?

  • Does diversity on teams affect investment returns, risk, or portfolio construction?




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